Metaplanet Issues $21M in No-Interest Bonds to Increase Bitcoin Holdings

Bitcoin Japan Metaplanet

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Sujha Sundararajan

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May 29, 2025

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Japanese Bitcoin treasury firm Metaplanet has announced a fresh $21 million bond issuance to fund additional purchases of Bitcoin.

The issuance of its 17th series of ordinary bonds bearing no interest is scheduled for redemption on November 28, 2025. According to a notice from the company on Thursday, the newly issued bonds were sold entirely to the Cayman Islands-based investment firm, Evo Fund.

On Wednesday, the Tokyo-listed investment firm issued $50 million in a new series of bonds, pushing further its aggressive accumulation strategy.

Evo Fund has primarily backed Metaplanet for its Bitcoin accumulation plan, subscribing to several rounds of Metaplanet’s zero-interest bonds.

Bonds Issuance Would Have Minimal Impact on Metaplanet’s 2025 Financial Results

The company clarified that each of the bonds would have a face value of $525,000 and shall be redeemed at par.

Further, Metaplanet said that it expects the issuance to have minimal impact on its consolidated 2025 financial results. Metaplanet added that it would disclose further developments if needed.

At current prices, the company could buy 195 Bitcoin from the issuance of $21 million, according to CoinGecko. Metaplanet first flagged plans to buy Bitcoin in April 2024 and has set an ambitious target of holding 10,000 BTC by the end of 2025.

With its current stash of 7,800 Bitcoin valued at over $839 million, BitcoinTreasuries.NET data shows that the firm is Asia’s largest public corporate holder of Bitcoin and ranks 11th globally. The company accumulated 1,004 BTC early this month.

Besides, Metaplanet’s stock has shot up more than 1,985% in the last year and is trading for 1,168 Japanese yen ($8.01), according to Google Finance.

Metaplanet’s Expansion Plans

Last month, the firm announced plans to establish a U.S. subsidiary, aiming to raise $250 million to further fuel its Bitcoin treasury strategy.

The new entity would expand its access to U.S. institutional investors and bolster 24-hour operations across time zones, Metaplanet said.

On Wednesday, nearly $1 billion was traded daily on Metaplanet, showing increased investor interest.

CEO Simon Gerovich shared on X that the company had hit a $5 billion market cap milestone, with its stock price finishing the trading day up 9.5%. “Bitcoin to the moon,” wrote Gerovich.